Fewer home owners "upside down"" is bad news?

The headlines sounded good until you got to the details.  Real estate tracking company, CoreLogic, released a report this week announcing that fewer people with mortgages owe more than their home is worth.  From 25% the percentage is down to about 22.5%.  It was a big splash of economic news until you got to the rest of the story. 

The reason that fewer owners are "upside down" is that they are no longer owners.  The homes have been given back to the mortgage holder or foreclosed..  



Fewer U.S. Homeowners Underwater on Their Mortgage | RISMedia


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